The problem with ethanol here in the states is that it actually costs more to refine than crude oil. The only reason it is cheaper at the pump than regular gasoline is because it is subsidized so much by the government and the corn prices go through the roof, which in turn drives up our grocery bill. There is absolutely no need to be using any other countries oil, when we have plenty of our own much cleaner crude oil that we should be refining, I digress.
I try to avoid running any ethanol in any of my engines as much as possible, especially my small engines that weren't designed to run it, also my personal preference, but it is getting harder to do. I don't doubt that you can get more HP with ethanol, I have seen the numbers on modded vehicles proving that. E85 is harder to find in my area unless I go into the city, so I have not tried it, only 10% blend is what is available.